A stunning streak of wins is emerging for President Trump and it’s terrifying Democrats — Supreme Court currently upholds mail-in ballot restrictions, 200,000 foreigners to have their visas revoked, ICE scores major win in federal court over activist judges blocking deportation, ICE carries out historic deportation operation in Virginia-Maryland…
[X] SB – ICE arrests in MD and VA
…Ilhan Omar now has an active ICE investigation into her, a $103K fine is coming on H1B visas, Hormuz oil is approaching pre-war flows in recent days…and more
Midterms fast approaching and Trump’s MAGA war chest is opening.
[X] SB – Pres Trump on buying beef from Argentina
Trump is helping a friend.
Argentina before Milei: decades of economic self-sabotage
Argentina wasn't a poor country that suddenly discovered poverty. It was once one of the world's wealthiest economies. The long-term problem was a political-economic model that repeatedly combined huge government spending, deficits, monetary financing, price and currency controls, protectionism, subsidies, and increasingly heavy regulation.
By the time Javier Milei won in November 2023, the accumulated damage was extraordinary:
- Inflation had moved into triple-digit territory.
- The government was running large fiscal deficits.
- Foreign-exchange reserves were depleted.
- Argentina had multiple exchange rates and extensive currency controls.
- The central bank's balance sheet had deteriorated badly.
- Importers were accumulating commercial debt because dollars weren't available.
- Real wages had collapsed.
- Poverty had climbed above 45%.
- Argentina was already deeply entangled with the IMF.
The IMF's description of the situation inherited by Milei is unusually blunt: "dangerously acute" imbalances and distortions, resulting from inconsistent and expansionary policies.
That's the environment in which Milei's message of burn down the economic establishment resonated.
He wasn't elected because Argentines suddenly became libertarian philosophers. They had lived through enough economic dysfunction that the political equivalent of throwing a brick through the window started looking attractive.
What Milei actually did
Milei came in December 2023 and immediately attacked the core problem: government spending and monetary disorder.
His government imposed severe fiscal discipline, reduced subsidies and spending, deregulated portions of the economy, loosened trade restrictions and foreign-exchange controls, and pursued monetary stabilization.
And, importantly, it hurt initially.
But the macroeconomic results have been striking.
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